Thu 2009-07-30 00:00 EDT
-- Friedrich Hayek's seminal Prices and Production, published in the depression days of 1935...discerned the critical role of the shadow banking system long before the advent of securitization, derivatives and other products that today have caused the monetary supply problem to reach a screaming crescendo...shadow money and credit are not just the dynamo that drives the free market, but also its Achilles heel
Sun 2009-07-26 00:00 EDT
``monetary policy around the world was too loose too long. And that created this just huge boom in asset prices, money chasing risk.''
Thu 2009-07-23 00:00 EDT
``just because a certain amount of liquidity is good, it does not necessarily follow that more is always better''; Richard Kline: ``The first issue when liquidity is provided to markets for any overall regulator, should and must be, "How do we prevent asset overpricing as a consequence? "''
Satyajit Das's Blog - Fear & Loathing in Financial Products Thu 2009-07-23 00:00 EDT
Satyajit Das's Blog - Fear & Loathing in Financial Products: Banking Fortunes - From "Catastrophic!" to "Just Awful"!
Banking Fortunes; catastrophes; fears; financial products; just awful; loath; Satyajit Das's Blog.
Tue 2009-06-16 00:00 EDT
by Tom Jacobs; Jonathan Haidt ``Morality is not just about how we treat each other, as most liberals think. It is also about binding groups together and supporting essential institutions''; psychology of morality
AlterNet; Conservatives live; Different Moral Universe; matter; s.
Tue 2009-04-21 00:00 EDT
Jesse's Café Américain: Mr. Pot Calling Mr. Kettle. Mr. Pot Calling Mr. Kettle.; Blackstone CEO Steve Schwarzman blames rating agencies; ``The destruction of the real wealth was in the bubble when the middle class was systematically destroyed. This is just the settling of accounts. What we are seeing now is the paint peeling off the rotten economy which the financiers created for their personal benefit.''
Mon 2009-04-06 00:00 EDT
ex-banking regulator William K. Black calls fraud: ``make really bad loans, because they pay better. Then you grow extremely rapidly, in other words, you're a Ponzi-like scheme. And the third thing you do is we call it leverage. That just means borrowing a lot of money, and the combination creates a situation where you have guaranteed record profits in the early years. That makes you rich, through the bonuses that modern executive compensation has produced. It also makes it inevitable that there's going to be a disaster down the road.''
Fri 2009-01-16 00:00 EST
The Economy: For Barack Obama, It's All About Credibility, by The Institutional Risk Analyst (IRA); ``We just don't think that Geithner has the integrity or the independence of mind to close and sell C, GS and the rest of the larger Wall Street banks...we suggest FDIC chief Sheila Bair.''
Barack Obama; credibility; economy; Institutional Risk Analyst.
Thu 2009-01-15 00:00 EST
Just when you thought things couldn't get any worse, by Mike Whitney | The Smirking Chimp; deflation, market failure, and government bungling
Thu 2009-01-15 00:00 EST
Jesse's Café Américain: Goldman Sachs Offshores Its Profits and Reduces Its Taxes to 1%; ``globalization has become just another enabler, wherein multinational financial corporations can play a larger set of jurisdictions and peoples against one another for the benefit of an elite minority.''
1; Goldman Sachs Offshores; Jesse's Café Américain; profits; reduce; tax.
Mon 2008-12-15 00:00 EST
Counterpunch; ``Total private-sector markets (in practice, markets run by the banks and money managers) have shown themselves to be just as destructive, wasteful and corrupt and, indeed, centrally planned as those of totally statist governments from Stalin's Russia to Hitler's Germany.''
ending; Jeffrey Sommers; Michael Hudson; Washington Consensus.
Sun 2008-11-23 00:00 EST
Winter (Economic & Market) Watch >> Everybody is a Keynesian Now; ``starting to entertain the notion that something is not quite adding up here. Just as early this year during the Mad Max economic phase, the talking heads and experts were overestimating economic strength, today they are underestimating it.''
Fri 2008-11-07 00:00 EST
by John Carney; ormer Bear Stearns chief risk officer Michael Alix; ``he was the guy on the mast charged with yelling "iceberg" just before the titantic introduced its bow to a floating hunk of ice''
Tue 2008-10-28 00:00 EDT
``money is taken from the poor (via taxes, printing, and weakening of the dollar) and given to the wealthy so the wealthy supposedly will have enough money to lend back (at interest) to those who have just been robbed''
essence; Mish's Global Economic Trend Analysis; plans; rescue.
Tue 2008-09-23 00:00 EDT
Tue 2008-08-19 00:00 EDT
NEWS & VIEWS-A Tale of Two Markets, Part 3, by Bennet Sedacca; "spreads in the credit markets are at historically wide levels and show no signs of tightening"; AIG "just one of scores of companies that cannot finance themselves"; "stocks remain...as over-valued as I have seen in many years"
